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Procurement mechanisms for assortments of differentiated products

Saban, Daniela; Weintraub, Gabriel - 2020

services per year, we leverage our characterization of the optimal mechanism to study the design of first-price-auction …

Persistent link: https://www.econbiz.de/10012244488

Regulations and technology behind hft latency, batch auctions and payments for order flow in the US and EU

Martins, Carlos Jorge Lenczewski - In: E-Finanse : finansowy kwartalnik internetowy 14 (2018) 2, pp. 34-46

In recent years, there have been many discussions and analyses of how high-frequency trading may affect the financial market – but still without any clear conclusions. Leaving these opinions behind, many adjustments have already been made in the US and Europe - both to regulations and market...

Persistent link: https://www.econbiz.de/10011967205

An auction story : how simple bids struggle with uncertainty

Richstein, Jörn C.; Lorenz, Casimir; Neuhoff, Karsten - 2018

Short-term electricity markets are key to an efficient production by generation units. We develop a two-period model to assess different bidding formats to determine for each bidding format the optimal bidding strategy of competitive generators facing price-uncertainty. We compare the results...

Persistent link: https://www.econbiz.de/10011916928

Procurement design with loss averse bidders

Fugger, Nicolas; Gillen, Philippe; Riehm, Tobias - 2019

compared to any single-stage auction. Finally we derive the optimal efficient two-stage mechanism. …

Persistent link: https://www.econbiz.de/10012146346

Commitment in first-price auctions

Gillen, Philippe - 2019

We study the role of commitment in a first-price auction environment. We devise a simple two-stage model in which … first-price auction both theoretically and experimentally. While theory suggests that the offers and the auctioneer …'s revenue should be higher in a standard first-price auction compared to the first-price auction with renegotiation, we cannot …

Persistent link: https://www.econbiz.de/10012150752

On the clock of the combinatorial clock auction

Janssen, Maarten C. W.; Kasberger, Bernhard - In: Theoretical economics : TE ; an open access journal in … 14 (2019) 4, pp. 1271-1307

The Combinatorial Clock Auction (CCA) has frequently been used in recent spectrum auctions. It combines a dynamic clock …

Persistent link: https://www.econbiz.de/10012158791

Universal high-speed broadband provision : an alternative policy approach

Wolfstetter, Elmar - 2021

Millions of citizens and firms lack access to high speed internet, even though governments pledged to spend huge sums of money to subsidize internet networks. In this paper we review some systematic flaws of present subsidy policies and outline a promising alternative. We propose that...

Persistent link: https://www.econbiz.de/10012506923

Bayesian implementation and rent extraction in a multi-dimensional procurement problem

Herweg, Fabian; Schmidt, Klaus M. - 2018

We consider a multi-dimensional procurement problem in which sellers have private information about their costs and about a possible design flaw. The information about the design flaw is necessarily correlated. We solve for the optimal Bayesian procurement mechanism that implements the efficient...

Persistent link: https://www.econbiz.de/10011976063

The benefits of auctioneer competition : merging auctions and adding auctioneers

Heczko, Alexander; Kittsteiner, Thomas; Ott, Marion - 2023

In a lab experiment, we analyze the benefits of increasing competition on auction platforms hosting multiple …

Persistent link: https://www.econbiz.de/10014384448

Should Auctions Be Transparent?

Bergemann, Dirk - 2017

minimal disclosure regime each bidder only learns privately whether he won or lost the auction. In equilibrium the allocation …

Persistent link: https://www.econbiz.de/10012948369